Tipping In LBC

Samuel Bryan • May 12 2016

As our team ramps up for the Beta release of the LBRY protocol, we’re making sure to have a little fun too.

New team member Alex Grin set up a LBC tipbot on LBRY’s Slack, so now when someone does something cool, we’re high-fiving each other with LBRY credits. It’s a great feeling! We moved from Slack to Discord and the tipbot made its way over as well!

LBRY is designed for micropayments, and we hope it will help to advance their use significantly. Imagine if consumers could pay a few cents for every download and all that money would go directly to the artist? The idea has been around for a while, but conventional payment processes haven’t been able to handle it, as a recent article in TechCrunch points out:

”Micropayments have long been discussed as that potential middle ground between paywall subscriptions and intrusive advertising. However, despite decades of debate and promising starts, no model has successfully gained traction. But as ad blocking rates continue to rise, we may finally see that begin to change. The key to making micropayments viable is to make the entire process frictionless. That, historically, has been a challenge, because of the reality of payment processing costs.”

We believe cryptocurrencies and blockchain technology are the keys to solving this problem. Our vision for LBRY is to allow all content producers – from large media organizations to independent artists – to sell their digital media directly to their fans and followers instantaneously, no matter the payment size.